BioPlus Accelerates Global Market Expansion... "Secures Key Regional Partners"

BioPlus announced on the 6th that it is accelerating its global market expansion by establishing strategic partnerships with companies in China and Brazil.

Last month, BioPlus formed a strategic partnership with Shandong Focusfreda Biological Co., Ltd. in China for the research and development, production, and sales of hyaluronic acid and related products. Shandong Focusfreda Biological is a subsidiary of Lushang Group, a large state-owned enterprise in China. The company develops and manufactures cosmetics, medical products, and health functional foods utilizing hyaluronic acid.

Based on this partnership, BioPlus plans to supply approximately KRW 69 billion worth of products to Shandong Focusfreda over the next three years. Using this as a foundation, the company intends to make a full-scale entry into the filler and cosmetic raw material markets within China.

Additionally, BioPlus has signed a strategic partnership with Nanyan Life Science and Technology in China to supply cosmetic raw materials worth KRW 38 billion annually. Since Nanyan Life Science and Technology manufactures cosmetics and directly distributes them within China, BioPlus plans to expand its presence in the Chinese cosmetics market through this partnership.

Furthermore, BioPlus has signed filler supply contracts worth KRW 5.4 billion annually with Brazil’s Cimed and KRW 12 billion over three years with EVO Pharma. It also secured a filler supply contract worth KRW 65 billion over five years with Brazil’s PHD. Since successfully entering the South American-Brazilian market in 2023, BioPlus has been striving to increase its market share, and it plans to accelerate the expansion of its supply network starting with these contracts.

Hwang Young-gi, Head of Global Marketing at BioPlus, stated, “We are encouraged by the full-scale market entry through strategic partnerships with Chinese companies and the expansion of our supply network in Brazil. These achievements are the results of our efforts in the first half of this year to restructure distribution channels and strengthen bases centered on key global regions.”

He added, “In addition to China and Brazil, we are engaged in various discussions with strategic partners in Japan, India, and Russia. With the establishment of our UAE Dubai and US subsidiaries expected to be completed soon, we anticipate securing orders centered on these regions.”

This content was produced with the assistance of AI translation services.